Brown Brothers Harriman analysts note that with currency war talk distracting investors and policy makers from the more serious and significant issues at hand, the G7 issued a statement today reiterating its "long standing commitment" to market determined foreign exchange rates.

They feel that fiscal and monetary policy is directed to domestic policy objectives and not a foreign exchange target, but at the same time, they recognise that excess volatility can generate disorderly markets, which in turn, may have a negative feedback on the economies and financial market stability.

Feb 12, 2013

Forex: EUR/GBP in highs above 0.8600

The pair is inching higher on Tuesday, as renewed strength in the euro is pushing the cross beyond 0.8600 in collaboration with the recent weakness in the sterling....